Thanks again for the exposure to Schiff. So many will benefit from it. And all will see that you are an extreme left winger intolerant of anything remotely inconsistent with dogmatic view.

But those who really want to learn, more fact, more knowledge, more information so that you can synthesize, analyze, comprehend different schools of thought such that you may make an intellegent and informed decision, here is Schiff's web site.

Preparations for Greek default gathering steam

BRUSSELS – Eurozone leaders may reject the notion of a “Greek default.” But private sector economists and political analysts are largely agreed that it is only a matter of time.

The questions that raises — and they are vast — include: what would the impact on European banks be? How much capital would need to be injected into the system? How would that be carried out? And would it stop contagion beyond Greece?

That Greece’s debt dynamics are unsustainable is no longer seriously in question. With a debt-to-GDP ratio of around 160% and climbing, the burden on the state is close to unbearable. Further EU/IMF emergency aid is not guaranteed. Some analysts now expect a default as early as November or December.

That would require writing down around 110-120 billion euros of outstanding loans, a fundamental restructuring that would be forced onto private sector creditors, constituting a default and bottom-line losses for many European and U.S. banks.

“There will have to be a recapitalizing of banks, especially in Greece but also in other eurozone economies’ banking systems,” said Wolff, who believes a Greek default could be on the cards during November.

By: John Hayward
Source: Human Events
September 21, 2011
Peter Schiff, the CEO of Euro Pacific Capital, testified before the House Subcommittee on Regulatory Affairs, Stimulus Oversight, and Government Spending on September 13. He was there to speak on the subject of job creation, but Schiff also knows a few things about how the government can destroyjobs. In his remarks before the subcommittee, which he also published in full at Forbes, he explained how he was fined for hiring too many people:

Regulations have substantially increased the costs and risks associated with job creation. Employers are subjected to all sorts of onerous regulations, taxes, and legal liability. The act of becoming an employer should be made as easy as possible. Instead we have made it more difficult. In fact, among small business owners, limiting the number of employees is generally a goal. This is not a consequence of the market, but of a rational desire on the part of business owners to limit their cost and legal liabilities. They would prefer to hire workers, but these added burdens make it preferable to seek out alternatives.

In my own business, securities regulations have prohibited me from hiring brokers for more than three years. I was even fined fifteen thousand dollar expressly for hiring too many brokers in 2008. In the process I incurred more than $500,000 in legal bills to mitigate a more severe regulatory outcome as a result of hiring too many workers. I have also been prohibited from opening up additional offices. I had a major expansion plan that would have resulted in my creating hundreds of additional jobs. Regulations have forced me to put those jobs on hold.

In addition, the added cost of security regulations have forced me to create an offshore brokerage firm to handle foreign accounts that are now too expensive to handle from the United States. Revenue and jobs that would have been created in the U.S. are now being created abroad instead. In addition, I am moving several asset management jobs from Newport Beach, California to Singapore.

I'm more than happy to spread the word about Peter Schiff and to finally smoke you out about your
true passion for him.
And i have pointed out repeatedly that you WILL NOT acknowledge that Mr. Schiff has made one single wrong prediction.
That is THE defintion of an ideologue.

Glad to see you have finally embraced Mr. Schiff with all the fervor i always knew you had for him.
Up until know you have seemed to keep a safe distance. Bravo.

Technically, it is still 2011 so predictions for 2011 cannot be wrong as you suggest. What a pitiful fool you are. Stick to it. It's suits you well.

S&L are you off your meds now? Mr. Schiff has made many predictions BEFORE 2011. He has been wrong many times as I have shown. The fact that you are not willing to acknowledge that makes you MORE the "pitiful fool".

But since you want to concentrate on 2011 (of course). He predicted a catastrophic collapse of thestock market for Jan. 2011.
Siriusly Wrong. It DID NOT HAPPEN. NOW IF YOU WANT TO BET ON THE REMAINING 2011 PREDICITIONS I WILL BE MORE THAN HAPPY TO TAKE YOUR MONEY.

The remaining predictions for 2011 are HYPERINFLATION, and INTEREST RATES AT 6% FOR 10 YEAR NOTES. Whose the fool?

Schiff's quote used for the headline of this article ("The reality is I don't think I've been wrong on anything") comes from an interview U.S. News & World Reports magazine did with Schiff in their May 30, 2008 issue.

Thanks to the wonders of video technology, we have an accurate record of Schiff's views from this 2002 television interview. What is notable here is that in this 2002 interview, Schiff was saying nearly the same exact things that he did during 2008 and in his recent interview with me.

At the time of this 2002 interview, the U.S. stock market had already suffered steep losses and the economy was in recession. The highlights of Schiff's predictions: he saw substantial downside over the next couple of years for the stock market. He predicted that the Dow, which was around 10,000 at the time, would plummet to between 2,000 and 4,000 and he even went so far as to say that the Dow might fall below 2,000. He expected the NASDAQ to drop to 500 from its then level of 1,700. He also said that the dollar was going to fall sharply and interest rates were going to go through the roof accompanied by dramatic inflation.

On all of these counts, Schiff wasn't just wrong but ended up being hugely wrong.

S&L are you off your meds now? Mr. Schiff has made many predictions BEFORE 2011. He has been wrong many times as I have shown. The fact that you are not willing to acknowledge that makes you MORE the "pitiful fool".

But since you want to concentrate on 2011 (of course). He predicted a catastrophic collapse of thestock market for Jan. 2011.
Siriusly Wrong. It DID NOT HAPPEN. NOW IF YOU WANT TO BET ON THE REMAINING 2011 PREDICITIONS I WILL BE MORE THAN HAPPY TO TAKE YOUR MONEY.

The remaining predictions for 2011 are HYPERINFLATION, and INTEREST RATES AT 6% FOR 10 YEAR NOTES. Whose the fool?

You are the fool of course.

Tell me which predictions before 2011 were wrong, and I tell you it was wrong, if it was. But please do not omit key parts that support you liberal democratic position. LMFAO. I'm starting to think that not only are you a hypocrite, but a lying and misleading one at that.